{"id":2824,"date":"2014-01-13T16:03:15","date_gmt":"2014-01-13T16:03:15","guid":{"rendered":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/?p=2824"},"modified":"2019-02-28T12:06:09","modified_gmt":"2019-02-28T12:06:09","slug":"no-upfront-fees-in-an-iva-2","status":"publish","type":"post","link":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/no-upfront-fees-in-an-iva-2\/","title":{"rendered":"No Upfront fees in an IVA"},"content":{"rendered":"\n<p>Reputable insolvency firms which offer financial solutions <strong>do not charge upfront fees<\/strong> when financially distressed clients initially contact them.  <\/p>\n\n\n\n<!--more-->\n\n\n\n<p>When you contact an insolvency firm which has offered free financial advice, verify that the advice you obtain is truly free. Ask when fees begin to apply. The three financial solutions most frequently suggested by Insolvency firms are Individual Voluntary Arrangement (IVA), Debt Management Plan (DMP) or Bankruptcy.<\/p>\n\n\n\n<p>There are many other possible solutions such as Debt Consolidation,  Debt Relief Order, Administration Order, Re-mortgage Equity Release  (clearing debts with the proceeds) and Asset Sale (also clearing debts  with the proceeds). It may even be that a family member could provide  financial support. These are not the only possible solutions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What should a reputable insolvency firm be expected to do for free?<\/h3>\n\n\n\n<p>The first thing is an explanation of the extent of any free services.\n Secondly, expect a free insolvency test to be carried out. To do this, \nthe firm has to compile an Income &amp; Expenditure Statement for you as\n well as a list of your Assets and Liabilities. This will enable them to\n determine fairly quickly whether you are insolvent or not. Your \nco-operation is needed for these steps.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/02\/Fotolia_196216006_XS.jpg\" alt=\"\" class=\"wp-image-2839\" width=\"391\" height=\"282\" srcset=\"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/02\/Fotolia_196216006_XS.jpg 408w, https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-content\/uploads\/2019\/02\/Fotolia_196216006_XS-300x216.jpg 300w\" sizes=\"auto, (max-width: 391px) 100vw, 391px\" \/><\/figure><\/div>\n\n\n\n<p>You will have to provide back-up documents, creditor statements, \nmortgage statements, pay-slips and so on. Having determined whether you \nare insolvent or not, the third and perhaps most important free service \nis to explain the options open to you so that you can decide which \nfinancial solution is best for you. Finally, the reputable firm should \nstage explain the fees and costs involved in pursuing each of the \noptions open to you. And of course, you would be under no obligation to \ncontinue dealing with the same firm. And they should tell you this \u2013 \nclearly!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reputable insolvency firms which offer financial solutions do not charge upfront fees when financially distressed clients initially contact them. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-2824","post","type-post","status-publish","format-standard","hentry","category-iva-articles"],"_links":{"self":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/2824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/comments?post=2824"}],"version-history":[{"count":4,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/2824\/revisions"}],"predecessor-version":[{"id":3175,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/posts\/2824\/revisions\/3175"}],"wp:attachment":[{"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/media?parent=2824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/categories?post=2824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nationaldebtrelief.co.uk\/debt-articles\/wp-json\/wp\/v2\/tags?post=2824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}